“Belneftehim” concern and the Kuwaitan fund for the Arabic economic development signed in Minsk a credit and project agreement on the reconstruction of the Svetlogosk-based plant “Himvolokno”. Under the contract’s provisions, the Belarusian side will be earmarked a $16,5mln loan for the period of twenty years with 4-4,5% interest rate a year.
Deputy director general of the fund Abdulvahab Al-Bader underscored that the project is but a beginning of a large-scale investment cooperation between his organization and Belarus. According to him, the technical-economic justification of the project, fulfilled “on the high professional level, proved its great profitability”. He added that in the future his fund will “actively support the best projects of the Belarusian side”.
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